Consumer confidence in Germany is expected to maintain its positive momentum in early 2017, supported by stable economic outlook and the strong labor market, predicts the market research company GfK. The index for expected attitudes in January increased from 9.8 to 9.9 points, while the economists polled predict that the index value will remain at the same level.
“Consumers seem to be completely immune to a series of risk factors, such as the outcome of the US presidential election, Brexit, precipitating the financial crisis in Italy, the failed referendum and the resignation of Prime Minister Matteo Renzi, as well as high threat of terrorism”, says the analyse of GfK. “It appears that consumers generally believe that labor market conditions play a major role in their decision to make purchases”, adds the analysis.
GfK uses three sub-indices of this month to determine the index set for next month.
The indicator for economic expectations rose from 15.3 points in November to 16.4 points in December. The income expectations improved and the relevant index growing by 44.5 points to 55.6 points, thanks to the good data from the labor market.
The index of propensity to buy, which reflects the willingness of Germans to spend money on expensive goods decreased by 51.2 points to 48 points, but its level remains quite high.
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